We are pleased to announce the sale of the Executive Office Building located at 4155 South Harrison Boulevard in Ogden, Utah. The building was acquired by a regional security company in its continued expansion efforts. The building is just over 40,000 square feet on three levels and is part of a four building office park. More information on this sale is available upon request.
I was recently reading an article published by The CRE (The Counselors of Real Estate) organization titled The CRE 2016-17 Top Ten Issues Affecting Real Estate. I have great respect for the CRE organization and find their reports very well researched and have delineated how this affects Utah commercial real estate.
After reading the article I wanted to add a few bullets related directly to the Utah Commercial Real Estate Investment Market. First I will share their list. Explanations of their top 10 are included in the link to their article above.
With those in mind, let me add a few thoughts specifically related to the Utah Commercial Real Estate Investment Market:
These are just a few of the issues facing commercial real estate investment in Utah and the market in general. I would love your input on the issues that you feel are relevant. As always, feel free to reach out to discuss.
We are grateful for Bonneville Builders regularly supplying us with updates on construction costs in the commercial real estate Utah market. As the commercial real estate investment market continues to heat-up prices tend to inflate as they relate to the underlying construction costs. These estimates provide a good basis for comparison. The link to the report is below.
A few items on the report that I found interesting and noteworthy:
Hopefully this information is helpful. Please feel free to reach out to Bonneville Builders direction for questions on the data provided. They can be reached at 801-263-1406 or JohnT@bonnevillebuilders.com (www.bonnevillebuilders.com)
At the end of every year as a commercial real estate investment broker you take some time to review the previous year and make certain observations. You also look at previous years to see if there are any notable trends compared to other times. All of us want a crystal ball and everybody has an opinion regarding what is happening in the market. I will provide my own thoughts in the coming weeks but I recently received a video from Bryce Blanchard, one of my friends and colleagues in the commercial real estate world. I found his presentation very insightful and entertaining. I thought you might enjoy it. The link to his video is below.
We are pleased to announce the sale of the North Street Apartments in Kaysville, Utah. The North Street Apartments are a 14 unit project in Kaysville City’s downtown area. It is one of very few multi-family projects in the city.
Additional information on the sale available upon request.
We are pleased to announce the sale of 2.83 acres of multi-family development land in Salt Lake City, Utah. The property is currently used as an industrial park and falls within Salt Lake City’s Transit Station zone allowing high density multi-family re-development. The site’s proximity to the North Temple Front Runner Station and the TRAX North Temple Bridge make it an attractive re-development site for commercial real estate salt lake city.
Additional details of the sale available upon request.
Creating balance as a commercial real estate broker has always been an important driver in my career and in my personal life. I would rate myself anywhere from moderately successful to completely disastrous in this endeavor depending on when you asked me (or my wife). It seems that the world of commercial real estate investment turns in such a way that there is always too much or too little to do. Rarely is there consistency in workflow. Balance is always a very elusive aspiration. Mix in family, hobbies, and community obligations and it can be difficult to do everything well.
From my early days in the industry as a commercial real estate broker, it always fascinated me to see how different clients and peers tackled this issue. Some have been very strict in maintaining not only a work-life balance but also a balance within their work as a commercial real estate broker. I have watched others who have embraced the “all in” mentality, burning the candle at both ends to take advantage of opportunities while they existed.
A few months ago, I read an article written by Alex Lawrence, a local entrepreneur, professor, and friend that was published in Utah Business magazine. I thought that he did a great job addressing these issues as they relate to entrepreneurship but also found them very applicable to me as a commercial real estate broker.
I have included the article below along with a link to the full article at the bottom of the page. Thanks Alex.
Life-work balance is always something people seem to talk about. Any busy person worth their salt has had the balance discussion a time or 10. How do you balance all that you have going on? As an entrepreneur, work, family, hobbies, service, fun, sleep and more are all pulling at you in what feels like a never-ending tug of war between a variety of people and items that need time and attention.
There isn’t enough time in the day to do it all! So one must seek balance, the proper way to keep the scales in harmony. Place an equal amount of one thing on the left, and an equal amount of the other on the right, and poof! Your life is balanced and you get to do and have it all. Queue the peaceful music as you find this Zen-like life of balance.
Balance is difficult to achieve because the concept itself has inherent flaws. How does one find two things that are different, yet weigh the exact same amount? Even a tiny bit more or less weight on one side will make the scales fall out of alignment.
What weighs more? Consider placing some of these things on opposite sides of the scale:
In my mind, none of these things weighs equally the same as its counterpart. While it can be close, it is never exactly identical in weight, and, by definition, the scale must be out of balance. This is why entrepreneurs should consider the concept of a basket instead of scale.
Instead of thinking about your personal life and work life like a scale that needs to be balanced, think of them as a basket that needs to be woven. Each piece of the basket is a strand of life. One piece that is intertwined is your business. Another is your family. Yet another is your health. Hopefully you get the picture. Notice that each weave on the basket is touching another. Notice that they wind in and out and overlap. Like water, the demands of life always seem to find the holes and weak spots of our figurative basket. In order for the basket to truly hold its contents, the fit must be tight!
While I still struggle mightily with this, the tightly woven basket seems a good representation of a well-rounded life.
Need to work? Work hard.
Want to play? Play with reckless abandon.
Spending time with your family? Do it.
Going to stay at the office late? Make it worth it.
Kids need a little league coach? Volunteer.
Out of shape? Exercise.
Sleep deprived? Stop it. Get to bed.
With the basket concept, most of this can happen simultaneously. Do your best not to use work as an excuse to avoid family, friends and exercise.
Prior to coming to Weber State I was an entrepreneur for a long time. I found it very difficult to make choices that were good for my health. Over the years, I gradually became an overweight, under-slept and over-stressed person who ate poorly, never exercised and rarely pursued hobbies outside of work. My justification was that sleep was for the weak or the dead. Ultimately, this lifestyle led to back surgery that brought my life to a screeching halt. This was my wake up call.
Since that time, I’ve made a concerted effort to exercise, sleep more and recreate enough to help lower my weight and eliminate blood pressure medications. This has led to a strong overall improvement of my physical and mental health, both of which positively impact my overall energy levels. The ROI of this effort, measured as an ability to “basket weave” my family and work lives, has been extremely high.
Finally, it is important to note that it’s a good idea to sometimes put the technology away and focus on family. You have to do it. The basket concept is not a license to pay less attention to your spouse, or work when you should be with your kids. You have to use your brain and your gut to make sure you aren’t allowing your business to always be No. 1. The basket can’t leak! Weave it all together in a healthy, shared way.
With practice, time and discipline you can weave it all together in a healthy, shared way. As an entrepreneur, it’s a never-ending effort. But keep at it and perhaps you’ll find that elusive balance you sought in the first place.
Alex Lawrence is vice provost and visiting professor in entrepreneurship at Weber State University. He can be reached via twitter.com/_AlexLawrence or at email@example.com.
– See more at: http://www.utahbusiness.com/articles/view/have_it_all#sthash.uOZlQWME.dpuf
Your local commercial real estate broker.
We are pleased the announce the sale of the Layton Call Center located at 2195 North University Park Boulevard in Layton, Utah. The property consists of an 81,525 square foot building sitting on 9.69 acres adjacent to the successful Legend Hills Development northeast of the I-15 Antelope Drive exit.
Please contact us for more detailed information or for info on commercial real estate in Utah.
Thanks, Brandon (firstname.lastname@example.org)
In recent months I have included a couple of updates on the residential real estate market. I do so because although the residential and commercial markets are different, they are correlated and driven by many of the same factors.
Matt Green, Regional Director of Keller Williams Utah produces some very propriety and interesting breakdowns of the Utah market. I have included an attachment to his assessment of the SLC market. Breakdowns of Park City and of the Davis, Weber & Utah County markets are available upon request.
A couple of the highlights of the report include:
Please let me know if you have additional questions.
We are pleased to announce the sale of a 6,000 square foot retail building located at 141 North Main Street on historic main street in Kaysville, Utah. The building was acquired by a restaurant group that will operate under the name of Orlando’s.
Please inquire for additional information regarding the sale of retail properties Utah — email@example.com